21

A Summer Internship Project Report

On
“A study on customer satisfaction towards debit card services provided by VMCBL”
At
The Veraval Mercantile Co-Operative Bank
Submitted to

Institute Code: 817

Narandas Jethalal Sonecha Management and Technical Institute
Under the Guidance of
Miss.Shital Vadhavi
(Assistant Professor)
In partial fulfilment of the Requirement of the award of the degree of
Master of Business Administration (MBA)
Offered By
Gujarat Technological University
Ahmedabad

Prepared by:
Gohel Sagar Nileshbhai
208170592028
MBA (Semester-III)
August 2021
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Declaration

I hereby declare that the Summer Internship Project Report titled “A study on customer
satisfaction towards debit card services provided by The Veraval Mercantile Co-
Operative Bank” is a result of my own work and my indebtedness to other work publication,
references, if any, have been duly acknowledged. If I am found guilty of copying from any
other report or published information and showing as my original work, or extending
plagiarism limit, I understand that I shall be liable and punishable by the university, which
may include ‘Fail’ in examination or any other punishment that university may decide.

Enrollment no. Name Signature

208170592028 Gohel Sagar Nileshbhai

Place: Date:
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Examiner Certificate
This is to certify that project work embodied in this report entitled “A study on
customer satisfaction towards debit card services provided by VMCBL” was carried out
by Gohel Sagar Nileshbhai (208170592028) of Narandas Jethalal Sonecha Management
& Technical Institute (Code: 817)
The report is approved / not approved.
Comments of External Examiner:

This report is for the partial fulfillment of the requirement of the award of the degree of
Master
of Business Administration offered by Gujarat Technological University.

(Examiner’s Sign)
Name of Examiner:
Institute Name: NJSMTI
Institute Code: 817
Date:
Place:
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Plagiarism Report
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Preface

Knowledge & Practice go hand in hand. Practical knowledge is the most important part in the
management study.

Being a student of MBA, I am honored of having my practical training at Veraval mercantile

co-operative bank located in Veraval on our specialization subject i.e., Marketing
Management on research title “A study on customer satisfaction towards debit card services
provided by The Veraval Mercantile Co-Operative Bank”.

I have conveyed my experience in simple word and I hope it’s worth reading.

All feedback is amiable invited.

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Acknowledgement

Writing research is not possible by one person. It needs co-operation and efforts of people
who are involved in it at every stage. I am thankful to every person for helping me so much in
my summer internship project.

Firstly, I would like to thank almighty God and my parents for supporting me in every way.

I am thankful to the whole staff of The Veraval Mercantile Co-Operative Bank Ltd. for
providing guidance and training to me.

I am very much thankful to our institute guide Miss. Shital Vadhavi and Mr. Pradip Mehta for
their guidance and support.
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Executive Summary

The role of banking industry is expanding & is becoming part for the growth of the country.
Everyday banking sectors are providing many financial products. In which some are old &
some are new from Indian context. However, some products have presence in the country
since long, like Saving A/c, Current A/c, Fixed Deposit, Loan & advances etc. But in the age
of globalization with free entry of lots of private sector this product needs some
modifications.

This research investigates the relationships of discerned usefulness, attitude of customer,

customer satisfaction and customer adaptation of banking in the context of VMCBL. This
report is prepared by information taken from annual reports, websites, help from officials and
personal experience.

Firstly, I have given introduction about the industry profile of banking sector and co-
operative banks.

After then I have given introduction of Veraval Mercantile Co-operative Bank Ltd., its
profile, functions, facilities and other information about the bank.

Then I have given introduction of my topic and introduction of the study. I have described
about the Sources of data, Collection of data, Hypothesis Formulation, Findings, Suggestions
and Conclusion and Limitations of the report.
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Index

Sr No. Particulars Page No.

1 Industry Profile

1.1 Introduction

1.2 Functions

1.3 Structure

2 Co-operative Banks

2.1 Introduction to Co-operative banks

3 About Veraval Mercantile Co-operative Bank Ltd

(VMCBL)

3.1 History of VMCBL

3.2 Development at Glance

3.3 Branches

3.4 Board of directors

3.5 Special Characteristics

3.6 Mission, Vision & Objectives

3.7 Products & services provided by VMCBL

3.8 Functional Departments

3.9 SWOT Analysis

4 About Rupay debit card

4.1 Introduction to Rupay debit card

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4.2 Types of Rupay debit cards

4.3 Procedure of apply for a Rupay card from VMCBL

4.4 Before You Begin Using Your Card

4.5 Using Your Card At An ATM

4.6 Using your Card Merchant Establishment

4.7 Charges of debit card

5 Introduction of the study

5.1 Background of the study

5.2 Literature Review

5.3 Statement of problem

5.4 Objectives of the Study

6 Research Methodology

6.1 Introduction

6.2 Sources of Data Collection

6.3 Tools & Techniques

6.4 Research Plan

6.5 Analysis of Data & Interpretation

6.6 Hypothesis Formulation

7 Findings

8 Suggestions

9 Conclusion
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10 Limitations of the study

11 Bibliography

12 Annexure
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Industry

Profile
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Introduction

Banking in India has started in the 18th century. General Bank and Bank of Hindustan was the
first bank started in 1786. But now, both are not in existence. Bank of Bengal, Bank of
Bombay and Bank of Madras were established during British East India Company. They
merged in 1925 to form Imperial Bank of India. After independence, it becomes State Bank
of India.

Indian Banking plays a key role in the development of the economy. Reserve Bank of India
i.e., Central Bank of India established in 1935. The Reserve Bank of India has provided
guidelines and every bank in India have to work accordingly.

Currently banking industry in India worth Rs. 81 trillion (US $ 1.31 trillion) and today banks
use internet and mobile devices to carry out transactions. The banks in India are focusing
towards the development of rural area as well for balancing the overall development of India.

Market Size

Banking sector in India consists of :-

 Public sector Banks: 12

 Private sector Banks: 22
 Foreign Banks: 46
 Regional Rural Banks: 56
 Urban Co-Operative Banks: 1485
 Rural Co-Operative Banks: 96000

In India 80% banks are public sector banks.

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Primary Functions of a Bank

Earlier functions of bank were to accept deposit and lending loans & advances. But now with
the development of the country and because of globalization there are additional functions of
banks other than above two.

They are as follows:

 To provide locker facility.

 To collect cheques, drafts on behalf of the customer.

 To provide overdrafts facility.

 To provide Automated Teller Machine (ATM), credit cards facility.

 To provide online banking and mobile banking services.

 To provide demat account.

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Structure of Banking

RBI

NON-
SCHEDULED
SCHEDULE
BANKS
BANKS

CO-
COMMEECIAL
OPERATIVE
BANKS
BANKS

PUBLIC PRIVATE
FOREIGN REGIONAL
SECTOR SECTOR
BANKS RURAL BANKS
BANKS BANKS
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Co-operative
Banks
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Introduction of Co-operative Bank

A co-operative is an autonomous association of persons united voluntarily to meet their

common economic, social and cultural needs aspirations through a jointly-owned and
democratically controlled enterprise.

Co-operation means co-ordination in work for the fulfillment of objectives. It is the process
of working together for common or mutual benefit.

Co-operative Bank is an institution established on co-operative basis and deals with common
banking business. Like other banks, the co-operative banks are founded by collecting funds
through shares, accept deposits and grant loans & advances.

India is an agricultural based country. In India co-operative banks has a history of almost 100
years. In India it was started for dealing with problem of rural credit. The history of Indian
co-operative banking started with the passing of co-operative societies Act 1904.

Co-operative banks play a vital role in the protection farmer’s interest. Co-operative
movement emerged in west, but importance of such have assumed in India.

Even today co-operative bank is playing a vital role in rural financing. Due to increase in
primary co-operative banks their business in the urban areas also has increased in recent
years.
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In rural areas, co-operative banks finance agricultural based activities which include farming,
milk, cattle, small scale industries etc. In urban areas they finance various divisions of people
for self-employment, home finance, personal finance, industries etc.

Co-operative banks are small sized units operates in urban and non-urban areas.

Definition of Co-operative banks:

“Co-operative bank is the form of organization in which persons voluntarily associate

together as human beings on the basis of equality for the promotion of the economic interest
of themselves.”

- Sir Horas Planket.

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About Veraval
Mercantile Co-operative
Bank Ltd.(VMCBL)
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Veraval Mercantile Co-operative Bank (VMCBL)

History

The Veraval Co-operative Mercantile Bank Ltd. was established in 1972. Today it is the one
of the leading co-operative banks in saurashrta region for its quality services.

The bank has carved a position in the urban banking sector with its rich heritage, technology,
integrity, loyalty to the prudent banking practices, savvy customer services.

The Veraval Mercantile Co-operative Bank has attained a multifarious growth not only in
financial standard but also in overall expansion of activities.

By providing class and mass services to the urban and semi-urban areas The Veraval
Mercantile Co-operative Bank has proved itself a pioneer in the Co-operative service sector.

Achievements

VMBCL has got “BANCO BLUE RIBBON AWARD”

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Development at Glance

 No. and Date of Registration:

No. 8225,

Date: 23/11/1971

 Date of Commencement:

Date: 2/3/1972

 Establisher:

Ramanbhai Ashra

 Reserve Bank of India License No. and Date:

No. GJ.670p

 C.A. of the Bank:

Sanjay M. Thandeshwar & Vaibhavi V. Nirmal

 Area of operation:

Within the radius of 30 k.m. surroundings urban and semi-urban area of

junagadh, porbandar and Rajkot district.

 Grade as per RBI Norms:

1(one)

 Audit Class:

“A”
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 Staff Strength:

100

Progress At a glance
year Audit No. of Share reserves deposits advances Working profit Dividend
class member capital capital
s

1972 A 307 1.27 0.02 7.39 3.28 9.03 -0.06 ------

1977 A 708 3.27 5.38 49.68 21.06 64.70 3.42 9%

1982 A 1109 7.24 22.86 136.32 83.69 179.71 5.40 12%

1987 A 2710 17.95 48.70 488.59 316.12 625.25 7.51 12%

1992 A 4125 33.85 148.15 1181.81 746.36 1443.83 16.00 12%

1997 A 7157 95.27 399.87 4416.20 2483.63 5142.85 28.51 15%

2002 A 12920 246.50 1269.51 8827.38 5551.60 11013.15 71.00 15%

2007 A 15868 247.91 1388.94 9176.46 5261.44 11648.30 36.00 10%

2012 A 19733 473.53 2950.87 17593.69 10878.11 22033.40 51.00 7%

2013 A 20640 540.93 3146.73 20507.22 13072.76 25433.28 121.00 10%

2014 A 21521 614.14 3394.05 25458.35 14475.50 31348.85 151.00 12%

2015 A 22515 710.77 4052.43 28770.31 17282.46 35484.74 251.00 12%

2016 A 23166 850.77 2886.35 33501.12 20372.57 39178.15 321.00 12%

2017 A 23675 994.97 3527.23 42836.77 21542.18 49464.13 425.00 12%

2018 A 24332 1244.40 4776.97 44335.00 25279.54 52647.46. 441.00 12%

2019 A 24781 1412.79 5303.76 50626.48 29145.09 60230.12 476.00 12%

2020 A 25327 1548.32 4948.43 56377.26 31399.42 67110.21 501.00 -----

2021 A 26259 1673.72 6679.23 60723.68 36265.84 72684.84 551.00 12%(Prop.)

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Branches

No. Branch Name Address and Opening Date

1 Administrative Office ‘Suvas’, 1st floor, Junagadh Road, Veraval.

2 Main Branch ‘Suvidha’, Subhash Road, Veraval

OD: 02-03-1972

3 Rayon Branch ‘Suvas’, Junagadh Road, Veraval

OD: 27-09-1984

4 Una Branch ‘Suvidha’, opp K.V. school, Una.

OD: 16-01-1984

5 Sutrapada Branch ‘Suvas’, Near Bus-Stand, Sutrapada.

OD: 14-12-1988

6 Junagadh Branch ‘Suvidha’, Maharshi Arvind Marg, Junagadh.

OD: 23-01-1995

7 Rajkot Branch Foresight Building, 1st Floor, Akshar Marg Near

Kalawad Road, Rajkot.

OD: 15-08-1996

8 Keshod Branch ‘Suvidha’, Jalaram Mandir Road, Keshod.

OD: 30-08-1996

9 Manavadar Branch ‘Suvidha’, 1st Floor, Near Girls school,

Manavadar.

OD: 04-09-1996

10 Bedi Branch Bank Unit, Office No. 6, Shri Sardar Vallabh

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Bhai Patel Marketing yard, Morbi Road, Bedi.

OD: 03-10-2016

11 Zanzarda Branch Shrinand Apartment, Ground Floor, Near

Bharat Petroleum, Zanzarda Road, Junagadh.

OD: 11-12-2016

12 Dared Branch Silver Point, Shop No 29-30, Pramukh Swami

Circle, GIDC Phase-3, Dared. Jamnagar.

OD: 18-03-2018
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Board of Directors

A Board meeting is conducted every month for effective control over bank. The board works
in a cohesive manner for smooth and efficient management of the affairs of the bank. There
are different sub committees to look after the working of the bank.

List of Board of Directors of Veraval Mercantile Co-operative Bank

Chairman Shri Navinbhai H. Shah

Managing Director Shri Dr. kumuchandra A. Fichadia

Joint Managing Director Shrimati Bhavanaben A. Shah

Director Shri Pradipkumar P. Shah

Shri Jitendrakumar A. Hemani

Shri Ashokbhai D. Madia

Shri Prakashchandra V. Parekh

Shri Manishbhai P. Shah

Shri Karsanbhai J. Solanki

Shri Ketan L. Chandrani

Shri Jitendrakumar M. Parekh

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Shri Pardipbhai D. Madia

Dr. Jatin M. Shah

Dr. Kumudben R. Mehta

Shri Arjanbhai D. Chavda

Director (Rajkot and Manavadar) Dr. Sumtilal T. Hemani

Director (Junagadh and Keshod) Dr. Mukeshkumar D. Thhumar

Director (Una and Sutrapada) Shri Yusufbhai I. vahanvati

Professional Director Shri Mahendra A. Shah

Miss. Manali J. Kamdar

General Manager Shri Atul D. Shah

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Special Characteristics

 Even after adopting 90 days’ norms NET NPA of bank is “0%”.

 Profitability and Strong Brand Equity.

 Successful leadership with strict monitoring and control.

 Fully computerized bank.

 In all branches Locker Facility is available at minimum rent.

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Mission, Vision & Objectives of VMCBL

Mission

Mission of Veraval Mercantile Co-operative Bank Ltd. is to provide supreme service

and relentless development in banking. To remain healthy and gainfully profitable
bank. And also VMCBL wants to promote banking habits among the weaker sections
of the society residing in urban and semi-urban areas.

Vision

Veraval Mercantile Co-operative Bank wants to play a vital role in country’s

development. VMCBL also wants to become a leading bank. And to make available
special made services.

Objectives

Every year VMCBL wants to achieve positive economic value added and wants to
become a market leader.

Main objective of VMCBL is to become one of the top 5 financial institutions in

terms of market share in all significant market segments it serves.
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Products & Services provided by VMCBL

Facilities provided by Veraval mercantile bank ltd are listed below:

 Saving Deposit:

“Saving deposit” means a form of interest bearing demand deposit which is a deposit account
whether designated as “Saving Account”. This account is opened with minimum amount
decided by bank. Such account is subject to the restrictions as the number of withdrawals as
also the amounts of withdrawals permitted by the bank during any specified period.

 Current Account:

Current account is for traders. “Current Account” means a form of non-interest bearing
demand deposit wherefrom withdrawals are allowed any number of times depending upon the
balance in the account or up to a particular agreed amount and shall also be deemed to
include other deposit accounts which are neither Saving Deposit nor Term Deposit.

 Fixed Deposit:

Fixed Deposit is offered by bank where an investor will earn higher rate of interest than
savings account. A lump sum amount of money is deposited for a specified period of time,
which varies from bank to bank. Once the money is invested in FD one cannot withdraw it
before maturity. But he/she may withdraw it after paying penalty.

 Cash Credit:
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Cash Credit means cash on credit taken by a particular person firm. Bank allows
their customers to take loan or withdrawal money up to a certain extent from their
current bank account. The interest is charged on running balance. It is generally taken for
fulfilling working capital requirement of the person.

 Demand Draft:

Demand Draft is compared with cheques. Demand Draft can be payable to the specified
party. But cheques can be payable to the bearer also. Demand Draft is a transfer payment
from one bank to another.

 Locker System:

Locker is a small sized storage system equipped with locks. Locker system is one kind of
security which is provided by VMCBL. Locker is used to keep valuable things like jewelry,
gold and important papers. VMCBL charges nominal rent for lockers from customers.

 Rebate Facility:

In general Rebate means return of a part of a purchase price by a seller to a buyer on purchase
of a specified quantity within a specified time. Rebate is not like a discount. Discount is the
amount which is deducted in advance of payment. Rebate or return is given after the payment
of full invoice amount.

VMCBL provides this facility to the customers. Suppose if the customers pay each
installments in time than some rebate is provided to them by bank.
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 ATM:

ATM stands for Automated Teller Machine. ATM is an electronic device that allows
customers to perform financial transactions. Such financial transactions include cash deposit,
cash withdrawals, mini statement of balance in account can be obtained. All these
transactions are done without the help for direct interaction with bank staff.

 Loan Facility:

A Loan is a facility which allows a person or firm to borrow money up to a particular amount
if and when needed. Loans are of two type Long term loan and Short term loan. The Short
term loan is for a period of less than one year and Long term loan is for a period of more than
one year. Bank charges some interest on loan which customer has to pay.

 IMPS:

IMPS stands for Immediate Payments Service. It is a real time; inter banking electronic
money transfer system. Transfer of funds can be done alone by mobile banking and internet
banking. An IMPS is available throughout the year including bank holidays.

 RTGS:

RTGS stands for Real Time Gross Settlement. RTGS is transfer of money from one bank to
another. Here bundling is not done. Real Time means transaction is settled as soon as they are
processed without waiting period. Gross Settlement means transaction is done one-to-one
basis. RTGS is not possible on holidays. Minimum amount required is Rs. 2 lakhs & above.

 NEFT:
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NEFT stands for National Electronic Fund Transfer. It is an electronic payment

system to transfer funds from one account to another between NEFT participant
bank branches in India. Here settlements are done in batches. NEFT is done for the amount
less than Rs. 2 lakhs. NEFT is not possible on holidays.
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Functional Departments in VMCBL

Departments are the bodies of organizations which are formed to organize people,
relationships, work and reporting in such a way that helps to achieve the organizations goals.
Like every company have different departments that works to achieve company goals, banks
also have departments that best supports for the accomplishments of the banks goals.

Veraval Mercantile Co-operative Bank has various departments which are classified on the
basis of the functions what they are performing. In VMCBL departments are classified at two
levels. They are Branch Level and Administrative Level. Departments of VMCBL are listed
below:

At Branch Level:

 Cashier Department
 Loan Department
 Clearing Department
 Locker Department
 Fixed Deposit Department

At Administrative Level:

 Human Resource Department (HR)

 Management Information System Department (MIS)
 Marketing Department
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 Branch Level

Cashier Department:

Cashier Department is the most important department of the bank, because it has direct
interaction with customer. Cash department does transactions like receiving and payment of
cash. Their duties also include handling cash inquiries made by customers and make the
customer experience satisfactory. Their duties include accepting credit slips, cheques and
ensuring balance in all transactions at the end of the working period.

Loan Department:

Loan Department is one of the functions in banks. In a loan process, the important job of the
banker is the selection of the borrower. Loan Department has to maintain credit risk, credit
exposure of the bank, conformity of central bank ltd., recovery and collecting dues of loan &
advances. Activities performed by them are maintaining and managing the financial books of
the bank, checking all the entries of the book accordingly to standards etc.

Clearing Department:

Clearing department does the activity of clearing cheques. Clearing of cheques is the process
of cheque deposited by customer in bank and the processing department clears the cheques. It
is the movement of cash from the bank in which it us drawn to the bank in which it was
deposited. It is accompanied by the movement of the cheque to the paying bank, either in the
physical paper form or digitally under a cheque truncation system. It is called clearing cycle.
Cheque would be returned, when cheque is arrived at the issuing bank and that account does
not have enough funds. Such returning of cheques is also known as dishonored cheque.
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Locker Department:

A locker is a small sized storage system equipped with a lock. A bank locker is used to keep
valuables like important documents, gold etc. It can be hired by companies, individuals, trusts
etc. Bank has to carry out KYC checking after identifying risk associated with the hirer.
Before providing locker facilities to any customer, bank has to collect necessary documents
that are required to hire a locker. An agreement is made between bank and customer, which
customer has to agree and sign it.

Fixed Deposit Department:

FD is one kind of investment product which allows the investors to invest a lump sum
amount for a fixed period of time & at a fixed interest rate. Amount is deposited for as a short
period as 7 days to 10 years. Interest rate differs in different banks or financial institution.
The FD department of a bank applies interest rate from the date of receipt of funds by bank
and is fixed for the specified duration. FD account holder will be liable for TDS, if the
aggregate interest income from FD is greater than 10,000.
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 Administrative Level

Human Resource Department (HR):

HRM means to manage people in your organization. VMCBL used it to enhanced employee
capabilities. As banking is a sector which always is a people business. It requires effective &
efficient to be successful. HR Department in VMCBL has the duty to find and recruit right
people for the right job in the banks.

The main challenge that is faced by any banks is to handle different risk and managing people
in banks.

People who are going to deal with customers are the face of the bank and HR Department has
to make sure that they have such working capabilities. They have to provide training before
assign them to work, so fresher are aware of the degree of core banking industry and
customer relationship.

Marketing Department:

Marketing plays a very important role in promoting business and mission of the organization.

Marketing means efforts to make people aware about your products and let them believe by
doing so, their needs will be satisfied at its best. Customers now a days are becoming quality
conscious of service served to them.
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Marketing of banking sector is the aggregate of functions, directed at providing

services to satisfy customer financial needs and wants, more effectively than the
competitors keeping in view the organizational objectives of the bank.

Marketing is done for the products of an organization. Banks also have products like current
a/c, saving a/c, demand draft, cash credit, locker system, charges and commission on certain
service, rebate facility, ATM facility etc.

Above mentioned products or any new products introduced by banks are needed to be
brought to the awareness to customer and this is done by marketing department.

Management Information System Department (MIS):

A Management Information System is an information system used for the coordination,

analysis, control and visualization of information in an organization. MIS is used for decision
making by gathering and producing reliable and relevant data.

A bank is a place which offers the financial services like savings/checkings and providing
credit to the customers.

Following reports are given by MIS Department to the management:

 The account which is going below the minimum balance required.

 The account which is having balance of more than Rs. 50,000.
 The non-moving account.
 An unusual rise and fall in the account movement.
 If there is a default in loan repayment.

A customer is warned to correct the situation based on the above reports.

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SWOT Analysis

Strength Weakness

Good prestige. Lack of professionalism.

Business among members. Credit card facility is not available.

Trust within members. Net banking facility is not there.

Customer preference towards bank. Small area of operation.

Affordable interest rate.

Good working staff.

Efficient management.

Opportunities Threats

Trust of society. Competition.

Large untapped area of expansion. Customers changing behavior.

Staff education. Small network for operation.

RBI policies. Changes in technology.

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About
Rupay debit card
 21

Introduction to Rupay debit cards

Rupay was introduced in 2012 by NPCI (the national payment corporation of India) and
functions within the domestic boundaries. Rupay cardholders can use the service for ATM
withdrawals, online transactions, and card payments. Rupay card has a comparatively lower
processing cost and processing time in comparison to visa and MasterCard. Rupay cards are
available all over the country including urban and rural areas.

The transaction cost is very less when compared to the other debit card. Rupay cards are
easily available to people with limited or no banking accessibility.

The name derived from the words ‘rupee and payment’ states that it is India’s own initiative
for debit card payment besides being an answer to international payment networks. It also
fulfils RBI’s vision of initiating a ‘less cash’ economy, thereby, offering electronic payments.

Meaning of Rupay debit cards

A debit card is a payment card that deducts money directly from a consumer's checking
account when it is used. Also called “check cards” or "bank cards," they can be used to buy
goods or services; or to get cash from an automated teller machine or a merchant who'll let
you add an extra amount onto a purchase.
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Types of Rupay debit cards

Mainly two types of Rupay debit cards

1. Rupay platinum card

2. Rupay classic card

1. Rupay platinum card

The main features of the Rupay Platinum Card are mentioned below:
 No annual charges are levied.
 No registration charges are levied.
 Daily withdrawal limit is Rs. 25,000. However, if you opt for a Premium card, the daily
withdrawal limit is increased to Rs.1 lakh.
 Daily POS limit is Rs. 25,000. However, if you have a Premium card, the daily POS limit
is increased to Rs.1 lakh.
 Insurance cover of up to Rs.2 lakhs is provided.

2. Rupay classic card

The main features of the Rupay Classic Card are mentioned below:
 No annual charges are levied.
 Daily withdrawal limit is Rs. 25,000.
 Daily Point of Sale (POS) limit is Rs. 25,000.
 Insurance of up to Rs.1 lakh is provided.
 More than one account can be linked.
 No registration charges are levied.

 So the Veraval mercantile co-operative bank ltd provide the classic Rupay card
services to customers.

Procedure of apply for a Rupay card from VMCBL

 You can visit a bank and meet a representative there. You will get an application form
for Rupay debit card, fill all the details and submit it. Ensure, you carry copies of your
KYC documents that are needed for verification. Once verification is done, you will
receive your debit card within 2-3 days. Sometimes an offline procedure takes more
than online mode.
 21

 You can apply via online mode too. Visit your bank’s website, check
whether rupay card is offered. If the bank is offering the card, then you can
submit your application on the website. The bank representative will get in
touch with you for further procedure.
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Documents required to apply for a Rupay debit card

 There are certain documents that you need to furnish as an identity proof to apply for
the Rupay debit card. The document are :

 PAN card
 Aadhar card
 Passport size photographs

 Before You Begin Using Your Card

 Sign on the signature panel at the back of the card.

 Memorize your PIN and destroy the PIN mailer.
 Use your new card immediately at any ATM in the NFS network and change the system-
generated PIN to a new 4-digit number of your choice. It is recommended that your first
transaction be made at an ATM

 PIN SECURITY

 Keep your PIN secret.

 Do not write the PIN on your card.
 Do not share your PIN with anybody (including family members, your banker or any branch
employee).
 Change your PIN regularly, preferably every quarter.
 Never let anyone see you enter your PIN. The safest measure is to ensure that you are alone
in the ATM while you are conducting your transactions.
 Avoid taking help from anybody under any circumstance at an ATM.

 CARD SECURITY

 Do not give your card to anyone.

 Never leave your card unattended. Keep your card in a place where you will immediately
know if it is missing.
 Treat your card like you would treat your cash.
 In case of loss or theft of your card, visit the nearest branch immediately and request for the
blocking of your card.
 Remember that The Veraval Mercantile Co-operative Bank Ltd. will never ask for any
financial/personal / debit card-related information via email. Hence, never respond to emails
seeking such information. They may be fraudulent.
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 CARD SAFETY

 Do not bend the card.

 Do not remove or scratch the magnetic stripe behind the card.
 If you have two cards, take care that the magnetic stripes of the two cards do not rub against
each other.
 Keep your card away from sunlight.
 Keep your card away from the TV and magnetic products.

 Using Your Card At An ATM

You can use your card at your own bank's ATM or any bank's ATM which is in the
NFS network. Look for Rupay logo displayed at the ATM. This logo indicates that the
ATM is in the NFS network. You can use your card at over 1.4 lac such ATMs across
India.

Step 1: Insert your card into the slot provided. If the ATM has a dip reader, insert the card
into the slot and pull it back. If the ATM has a motorized card reader, your card will be
retained in the ATM till the transaction is completed.
Step 2: The ATM will prompt you to select your preferred language.
Step 3: Next, the ATM will prompt you to enter your PIN.
Step 4: After confirmation of your PIN you will be provided with a list of transaction
options, viz. : Fast Cash, Cash Withdrawal, Balance Enquiry, Mini Statement, Change PIN.
Select your desired transaction and follow the instructions.
Step 5: In case of cash withdrawals, your account with The Veraval Mercantile Co-
operative Bank Ltd. will be debited online with the amount of withdrawal.
Step 6: After you finish the transaction at an ATM having a motorized card reader, collect
your card as soon as it is ejected (within 30 seconds), or else it will be retained by the ATM.
If your card gets retained, please contact the ATM-linked branch or the card-issuing branch.

 Using your Card Merchant Establishment

Step 1: Present your card at the Merchant Establishment. Ensure that it displays the Rupay
logo.
Step 2: The merchant will swipe it through the POS terminal and enter the amount of your
purchase.
Step 3: You will be presented with the PIN pad. Enter the same PIN which you use at an
ATM to withdraw money.
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Step 4: The POS terminal will process your transaction by debiting your account
with The Veraval Mercantile Co-operative Bank Ltd. with the purchase amount
(subject to availability of funds in your account) and print a charge slip.
Step 5: Verify the amount on the charge slip and sign on the merchant copy.
Step 6: The merchant will return the customer copy of the charge slip and your card.

Know your Rupay Debit Card

1.  FRONT OF THE CARD

  Debit Card Number
 Your Name
 Expiry Date
 Rupay Logo
2. BACK OF THE CARD
 Magnetic Stripe
  Signature Panel
 CVD2

Charges of debit card

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Introduction

of the study
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Background of the study

The report is divided into several parts. At first introduction of the industry profile that
includes history, functions and structure of banking has been given.

In next part introduction of co-operative banks is given. Following part is dedicated to

describe VMCBL History, Development, Branches, Products & services, Functional
departments etc.

After than about Rupay debit card of VMCBL has been given. Literature review, Statement
of problem, learning objectives etc. has been done.

Following part contains information about the research method that has been used, Research
design, Collection & Analysis of Data, Hypothesis Development, Results interpretation,
Limitations, Findings & Suggestion.
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Literature Review

Pallister and Isaacs (2002):

A debit allows a customer to pay for goods and services at various retail outlets by directly
debiting their bank accounts. On the other hand, credit cards enable the holders to obtain
credit and withdraw cash up to a pre-arranged ceiling.
 
P Manivannan (2013):
Usage of Credit card was measured a luxury, and has become needed. These plastic money
and electronic payments was and used by only higher income group. This facility extended
not only to customers in urban areas or cities, but also to customers residing in rural area.
However, today, with development of banking and trading activity, the fixed income group or
salaried classes are also start using the plastic money and electronic payment systems and
particularly Credit cards.
 
Bansi Patel and Urvi Amin (2012). in any transaction Plastic money becomes
inevitable part of the transaction and with it life becomes more easy and development would
take better place and along with the plastic money it becomes possible that control the money
laundry and effective utilization of financial system would become possible which would also
helpful for tax legislation.
 
Noknoi (Nov 2009):
Debit card made a little change on their expense behaviour especially in food and drink
consumption.
 
 
Simiyu (2012):
Card holders use their cards for consumption rather than for investment purpose as indicated
in the reduced levels of saving and increased level of consumption through usage of the
cards.
 
Linda. S. (2012):
Males are more preferred Debit card in Coimbatore city. Customers are under the age group
of 30 – 40 years are using more plastic cards. Cardholders are mostly post graduate persons.
Majority of the customer are holding debit card of Private sector banks.
 
Kosse(2013):
Consumers’ daily payment preferences are strongly affected by their perceptions of safety i.e.
use of debit cards. It is essential to realize that perceptions may not always reflect reality.
Consumers may wrongly perceive that payment through debit card is unsafe.
 
Patil, S (2014):
The use of Plastic cards is more and more increasing for online payment. The arrival of malls,
multiplexes, online shopping stores and shopping complexes encourage the customers to
make use of plastic cards.
 
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Bishnoi, S (2013):
Specialized services such as 'recharge prepaid mobile card', 'online shopping'
association with income. 'Transfer funds between your own accounts', 'recharge prepaid
mobile card', stock market and mutual funds transaction', 'donations and charity' and 'online
shopping' are significantly associated with occupational categories of the respondents.
 
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Title of the problem to be studied

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Objective of the study

1. To study the awareness towards usage of debit card.

2. To know the pattern of usage of debit card.
3. To know the factor influencing the usage of debit card for shopping.
4. To understand the level of satisfaction towards the usage of debit card while
shopping.
5. To identify the problems in the usage of debit card.
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Research
Methodology
 21

Research Methodology

Introduction

Research in common parlance refers to a search for knowledge. One can also define
research as a scientific and systematic search for pertinent information on a specific
topic. In fact, research is an art of scientific investigation.

Definition

A research is defined as a systematic investigation into and study of sources and

material in order to establish facts and reach new conclusion.

Redman and Mory define research as a “systematized effort to gain new

knowledge.”
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Sources of Data Collection

I have taken both primary as well as secondary data to check the satisfaction of customer
towards deposits offered by VMCBL.

Primary
Data
Data
Secondary
Data

 Primary Data:

Data collected for the first time by the investigator himself is called Primary Data. In this
report data has been collected by Questionnaire method & Personal Interview.

 Questionnaire Method: - It is quite popular method for big enquiries.

Questionnaire is given to the customer with a request to answer the questions and
return the questionnaire.

 Personal Interview: - Data has also been collected by communicating with the
bank staff.
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 Secondary Data:

Secondary Data is the data which already have been collected by someone else and which
have been passed through statistical process. For my report I have collected data from
published annual reports, reference books, and historical notes of the VMCBL.
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Tools & Techniques

When research is to be done we have to use various tools and techniques for successful
completion. The tool that is used by me is the Questionnaire Method. Z-test is applied for the
analysis of data.

Research Plan

 Sample Design:

I have used random sampling and the sample size is 105.

 Research Design:

Descriptive Research: - It is a quantitative research that is used to collect quantifiable

information to be used for statistical analysis of the sample of population. Descriptive
research includes facts findings and questionnaire.

Quantitative Research: - When we conduct a piece of quantitative, we are trying to answer a

research question or hypothesis we have set.
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